Stack Infrastructure has secured a 39.7 billion yen ($247.7m) green financing package to develop its data center campus in Japan's capital, Tokyo.

The first stage of the 36MW TKY01 campus in Inzai, Greater Tokyo, is set to come online next year, offering 18MW, with the additional capacity set to be available in 2027.

Leading Japanese and international lenders have contributed to the debt financing, which is fully underwritten by Natixis CIB and Societe Generale. The pair also acted as green loan coordinators.

“This transaction underscores Stack’s ability to align with long-term capital partners and deliver sustainable, scalable capacity in Japan,” said Preet Gona, Stack’s CEO for the APAC region. “As demand for mission-critical digital infrastructure continues to accelerate across the region, this financing ensures we can expand with scale, speed, and certainty.”

The company said the green financing structure enhances its “ability to expand efficiently while embedding sustainability across its development platform.” The company has not shared details of the facility’s sustainable features.

Stack – launched by investment firm IPI Partners in early 2019 after merging former Infomart and T5 assets into a new wholesale colocation provider – announced plans to expand into APAC in October 2021.

The company is also developing an Osaka campus in partnership with ESR. As well as Japan, Stack’s APAC portfolio includes data centers in operation and development in Australia and Seoul, South Korea.